Buying Outer Banks Real Estate

Buying an Outer Banks Home

Real estate agents represent the sellers unless the buyers, either verbally or in writing, retain the agent to represent their interests and to negotiate on their behalf.  When speaking with a seller’s agent, understand their job is to share any information with the seller that would benefit the seller in a negotiation.  A seller’s agent owes the buyer complete honesty and disclosure of material facts, but they cannot offer opinions and advice.  The seller is their client unless and until you enter into a buyer agency relationship.  Carol Hunsecker prefers to represent buyers as a buyer’s agent so she can share her knowledge and opinions to help her clients make the best possible decisions.  The subject of buyer agency, dual agency, and seller agency will be discussed at the initial meeting.

What are Your Needs and Goals for Your New OBX Property?

In making a home buying decision, the first part of the process is to define your needs and goals and to give thought to market conditions.  Are we in a buyer’s market or seller’s market?  How long do you feel you will want to own this property and what will market conditions likely be when it is time to sell?  Give some thought to planning your sale when you are planning your purchase, if that is important to you.  To illustrate, would one house resell faster and at a better price than another?  Life is uncertain, so having the best potential resale if the need arises is worth evaluating.

If the Outer Banks real estate you are considering is an investment property that will be converted to a retirement home, plan for that eventual use by looking at homes with garages and good storage space in an area that you feel you will be happy in.  Homes that rent well seasonally may not be the best choice in a retirement home if having neighbors and a primary home community is your retirement vision.  Being close to the ocean is important in a rental property, being away from the ocean in a more peaceful community in retirement is worth considering.  Often a more traditional primary home can attract vacationers through sites like Airbnb, VRBO, and Home Away.  Carol likes to explore all of the options so you think things through and are completely happy at the end of the process.  That’s the way to your happy place!

Your Outer Banks Real Estate Budget

Knowing your comfort level with a new mortgage is key to finding the perfect home. You may qualify for a loan in excess of what you would prefer to pay so prequalification with a lender will help guide you to the houses that are a good fit financially.   For most, having a manageable payment that does not cause stress is more important than having more house and a budget that is too tight.  Once you have your budget you will be looking at houses that work for you and not at ones that are currently out of reach and that cause disappointment.  As well, building components that may need replacement during the anticipated length of ownership is also a budgeting factor.  Is it wiser to select a higher priced property that will not require the updates and therefore more out of pocket cash?  Are you handy and able to handle repairs the house will need and thereby create sweat equity?  All questions to consider.

Your Vision of Your Outer Banks Home

What type of home works best for you – single family or condominium?  Exterior maintenance responsibilities and insurance costs are yours in a single family home but are provided by the homeowner’s association in a condominium.  Monthly homeowner’s dues include operating expenses and money allocated to reserve accounts to fund future major updates.  Providing the annual budget and the association financial statements is part of the due diligence process.  Any unmet financial needs in a condominium are handled by a special assessment that is determined by the Board of Directors and assessed to each owner, in addition to the regular dues. The homeowner’s association should have the funds to meet their current and future needs so buyers should review the financial statements and also the minutes of recent homeowner’s meetings to understand the overall situation during the due diligence phase of their contract.

Let Carol Find Your Perfect Outer Banks Spot

With all of the technology and the Multiple Listing Service at her disposal, Carol can find and research all properties that fit your needs.  Once she knows what you are looking for, Carol can preview listings and help you save time by eliminating ones that do not fit your parameters.  Some clients prefer to see all of the homes themselves and she will show them all.  Carol is diligent, thoughtful, and hard working.  She shares her knowledge and educates you along the way.  Her approach is a low key, no pressure one and you have her full attention.  Carol handles your transaction personally from beginning to end – she is the perfect agent for you!  Contact Carol to begin a conversation, she likes to help!